AMC reportedly in talks to refinance high-yielding debt, while stock drops for a 9th-straight day

30696 amc reportedly in talks to refinance high yielding debt while stock drops for a 9th straight day

Shares of AMC Entertainment Holdings Inc. AMC, -2.69% fell 4.9% toward an eight-month low in morning trading Tuesday, which puts them on track to suffer a ninth-straight decline. The stock has plunged 30.6% during its losing streak, which would be the longest since the 11-day stretch that ended on Jan. 5, 2021. The Wall Street Journal reported that the movie theater operator is in advanced talks with multiple parties to refinance its highest-yielding debt, in an effort to lower interest payments and stretch out maturities. Citing a person familiar with the matter, the WSJ report said that while the selloff in AMC’s bonds, which coincided with the sharp weakness in the stock price, could make refinancing more difficult, the company may still be able to strike a deal that lowers its interest expenses. AMC’s stock has tumbled 57.1% over the past three months, while the S&P 500 SPX, -1.47% has declined 5.7%.

Source: Marketwatch

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